President Trump announced on Thursday that the United States will impose a new tariff of 5% on all goods imported from Mexico.
The President said the tariff will take effect June 10 and would increase five percentage points every month until October, when it would be capped at 25%.
The President announced on Twitter:
On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied… ....at which time the Tariffs will be removed.
The President of Mexico, Andrés Manuel López Obrador, said that Mexico would have a “prudent” response.
